Trade Report: Today, Rand Wealth LLC Buys New Position in American International Group Inc. (AIG)

Rand Wealth LLC acquired a new stake in American International Group Inc. (NYSE:AIG) during the third quarter, Holdings Channel reports. The firm acquired 3,500 shares of the insurance provider’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Capital Research Global Investors increased its stake in American International Group by 23.7% in the second quarter. Capital Research Global Investors now owns 69,710,055 shares of the insurance provider’s stock worth $3,686,965,000 after buying an additional 13,367,970 shares during the period. Alliancebernstein L.P. increased its stake in American International Group by 13.0% in the second quarter. Alliancebernstein L.P. now owns 10,045,304 shares of the insurance provider’s stock worth $531,296,000 after buying an additional 1,159,555 shares during the period. Cohen & Steers Inc. increased its stake in American International Group by 4,949.7% in the second quarter. Cohen & Steers Inc. now owns 8,603,093 shares of the insurance provider’s stock worth $454,846,000 after buying an additional 8,432,725 shares during the period. First Eagle Investment Management LLC increased its stake in American International Group by 1.3% in the second quarter. First Eagle Investment Management LLC now owns 8,352,452 shares of the insurance provider’s stock worth $441,761,000 after buying an additional 109,710 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in American International Group by 1.0% in the second quarter. Canada Pension Plan Investment Board now owns 8,198,329 shares of the insurance provider’s stock worth $433,610,000 after buying an additional 78,300 shares during the period. Institutional investors and hedge funds own 86.11% of the company’s stock.

Shares of American International Group Inc. (NYSE:AIG) traded up 0.101% on Friday, hitting $64.395. The stock had a trading volume of 1,361,955 shares. The firm has a 50 day moving average price of $61.24 and a 200-day moving average price of $57.71. American International Group Inc. has a 52 week low of $48.41 and a 52 week high of $64.72. The company has a market cap of $66.14 billion, a price-to-earnings ratio of 209.756 and a beta of 1.37.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. American International Group had a return on equity of 1.82% and a net margin of 0.66%. During the same quarter in the previous year, the firm earned $0.52 EPS. Analysts anticipate that American International Group Inc. will post $3.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 8th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.99%. The ex-dividend date is Tuesday, December 6th. American International Group’s dividend payout ratio is 290.92%.

A number of analysts recently issued reports on AIG shares. Credit Suisse Group AG set a $61.00 target price on shares of American International Group and gave the stock a “hold” rating in a research report on Sunday, November 20th. TheStreet raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Monday, October 10th. BMO Capital Markets increased their price objective on shares of American International Group from $58.86 to $64.00 and gave the company a “market perform” rating in a research report on Monday, August 22nd. FBR & Co reaffirmed a “hold” rating and issued a $53.00 price objective on shares of American International Group in a research report on Thursday, August 4th. Finally, Zacks Investment Research downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. American International Group presently has an average rating of “Buy” and an average price target of $65.17.

About American International Group

American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.